NO.PZ2023031001000022
问题如下:
Which of the following is most likely to increase financial leverage?
选项:
A.Cutting prices
Replacing short-term debt with long-term debt
Entering a sale-leaseback transaction for the company’s head office building
解释:
C is correct. Entering a sale–leaseback transaction for the company’s head office building increases financial leverage. The company sells assets with the obligation to repurchase the assets in the future as well as make lease payments. These transactions increase its financial leverage. Additionally, sale and leaseback transactions reduce the business’s overall asset base, which, in turn, reduces its ability to add more debt should the company need to raise debt.
A is incorrect. Cutting prices reduces the profit margin for the business, thereby increasing operating leverage.
B is incorrect. Replacing short-term debt with long-term debt does not change financial leverage: Debt, irrespective of maturity, is simply debt.
售后回租,不应该是相当于抵押借款,资产不出表还继续提折旧,每年确认融资费用吗?我觉得会增加financial risk但是不会降低business risk吧?老师讲解说售后回租这种模式是br向fr的转移